BEAMSTART Logo

Malaysia's Carsome hits $1.3 billion valuation after raising $170 million in new funding

Carsome is now Malaysia's latest unicorn startup company.


Malaysia's Carsome hits $1.3 billion valuation after raising $170 million in new funding | BEAMSTART News

- From our Sponsors -

Carsome, one of the most popular used-car marketplaces from Malaysia, has just raised $170 million in a new funding round.

The new round brings Carsome's valuation to over $1 billion.

- Featured Sponsor -

Key Highlights

  • Carsome is now Malaysia's latest unicorn startup company, valued at $1.3 billion after this funding round.
  • The new round was participated by both new and returning investors, the most notable ones being Taiwanese chipmaker MediaTek, and "one of the largest sovereign wealth funds from the region", according to the company.
  • The new funds will be used for both expansion and acquisitions.

Why It Matters

  • Prior to this, Carsome has raised over $100 million across its previous funding rounds.
  • Carsome is expected to bring in $1 billion in revenue for 2021, according to CFO, Juliet Zhu.
  • Moving forward, Carsome is looking towards an IPO that could value the company north of $1.7 billion.
  • CFO Juliet Zhu added that Carsome is considering listing in the United States within the next 12 months via an SPAC.

- From our Sponsors -

ABOUT THE AUTHOR

Carl Adrian

Partnerships & Content Coordinator at BEAMSTART

Based in Singapore

Works at BEAMSTART

ALSO MENTIONED IN THIS POST

Carsome

Smarter, easier way to car buying & selling. Sell your used car with us within 30 mins & compare upfront exslusive offers from our Certified Dealers when buying new car to get the best deal.

Industry:


Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.

BEAMSTART is a Global Community and News Portal for Entrepreneurship. We cover the latest news and bring together a global network of CEOs/founders, Investors, Business Leaders, and Professionals.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).